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10 Common Abusive Clauses in Spanish Mortgage Loans

Dear Sirs,

I live in Spain and have a mortgage, I have a life insurance policy which was taken out at the same time as the mortgage. Do I have to have this life insurance? I live in an apartment and I pay community charges every year which includes building insurance. Again, at the same time as I took out a mortgage, I have been paying a building insurance. Should I be paying this?
Your help in this matter would be appreciated. Thank you
Pierina Short

We would need to review the mortgage documentation but it is likely that you are able to cancel this life insurance policy as it was not a legal requisite but just a a commercial condition that your bank insisted upon at the time they were considering your mortgage application.

I would therefore approach your bank and insist that you want to cancel the policy. Make sure they inform you in advance of what are the costs involved for the cancellation. Should you still be in need of instructing a Solicitor, please do not hesitate to drop us a line at info @ lawbird.com

10 Common Abusive Clauses in Spanish Mortgage Loans

Interesting article but I am having problems following your references. The link to Law 7/98 LCGC is broken. It would also help if you gave the full meaning of LCGC (in Spanish) so the reader can google it.